Brazilian insurer Sul America SA has sold its auto unit and other parts of its business to Germany’s Allianz SE for 3 billion reais ($734 million), it said in a filing on Friday. Last month, Sul America said Allianz had made a non-binding offer for its property and casualty (P&C) and auto units, and that… Continue reading Brazil Insurer Sul America Sells Units to Allianz
Tag: Allianz
Allianz Launches App for Mobile Payments
Allianz has partnered with Apple Pay to introduce its Allianz Pay & Protect app for mobile payments. The new service offers a virtual Visa card so users can make mobile payments without adding a bank account. The company offers two options: a free of charge light version with a prepaid Visa and a premium version.… Continue reading Allianz Launches App for Mobile Payments
Allianz Offers to Buy P&C, Auto Units from Sul America
Brazilian insurer Sul America SA has received a non-binding offer from Germany’s Allianz SE for its property and casualty (P&C) and auto units, it said in a filing on Tuesday, adding that the two companies are in bilateral talks. If an agreement is reached, Sul America said, the firm’s operations would be concentrated in health,… Continue reading Allianz Offers to Buy P&C, Auto Units from Sul America
Allianz Announces Changes to Board
German insurer Allianz has made changes to its board of management following Helga Jung’s decision to not extend her appointment and retire at the end of December 2019. Jung will leave after 26 years at Allianz and having served as member of the board of management for eight years. During this time, she served as… Continue reading Allianz Announces Changes to Board
Santander Pays Allianz $1.1 Billion to End Spanish Venture
Banco Santander SA agreed to pay 937 million euros ($1.1 billion) to buy Allianz SE out of an insurance joint venture in Spain, more than halving the value of the German insurer’s assets under management in the country. Aegon NV and Mapfre SA are now set to become Santander’s insurance partners in Spain. Aegon is… Continue reading Santander Pays Allianz $1.1 Billion to End Spanish Venture
Allianz Warns of Costs from New Shipping Emissions Rules
New emissions rules set to hit the shipping sector from next year risk causing costly harm to vessels, German insurance giant Allianz said in a study published Tuesday. “The worry is that we could see an increase in the frequency and cost of machinery breakdown claims” related to the changeover, senior shipping underwriter Justus Heinrich… Continue reading Allianz Warns of Costs from New Shipping Emissions Rules
Allianz Buys UK General Insurers for $1 Billion
Allianz SE is set to become the U.K.’s second-largest general insurer after reaching deals to buy a Legal & General Group PLC unit and take full control of a venture with Liverpool Victoria for a combined 820 million pounds ($1.03 billion). Legal & General Group said Friday that it has agreed to sell its general… Continue reading Allianz Buys UK General Insurers for $1 Billion
Allianz Leads C$100 Million Funding Round for Fintech Wealthsimple
German insurer and asset manager Allianz has led a C$100 million ($74.55 million) capital raise for Canadian financial technology company Wealthsimple. Wealthsimple, the online investing service and commission-free trading app which manages around $4.5 billion for more than 150,000 clients in Canada, Britain and the United States, said it would use the cash to boost… Continue reading Allianz Leads C$100 Million Funding Round for Fintech Wealthsimple
Insurer Allianz Aims to Become Climate Neutral by 2050
Allianz, Germany’s leading insurer, aims to make its investments completely climate-neutral by the middle of the century, company CEO OIiver Bäte told shareholders, news agency AFP reports. At the insurance company’s annual general meeting, Bäte said the 2050 goal was a sign of the company’s “commitment to society” and that the company would no longer… Continue reading Insurer Allianz Aims to Become Climate Neutral by 2050
Deutsche Bank Asset Management Arm Said to Get Allianz Interest
Allianz SE is exploring the possibility of a combination of its asset management arm with Deutsche Bank AG’s DWS Group to create a national champion in active money management, according to people familiar with the matter. The Munich-based insurer is looking at the feasibility of a deal with Germany’s largest lender to create a business… Continue reading Deutsche Bank Asset Management Arm Said to Get Allianz Interest